Brazilian mining giant Vale has confirmed that it will be making a major announcement regarding the Newfoundland/Labrador nickel/cobalt mine. It is thought that due to increased demand and price for cobalt the plan to expand the mine will move forward. Cobalt is extracted as a by product of nickel or copper mining and is essential in electric vehicles, mobile phones and other battery technology. What is interesting is that Vale has suspended the sale of another of its mines in New Caledonia in the South Pacific. It is not known if the two are correlated, or what this will mean for certain in regard to the mine; although, some expect that the expansion would mean the mine would extend until 2035.